Alpha Bank Gets Green Light for Alpha Trust Deal at 20.20 Euros

Alpha Bank's acquisition of Alpha Trust is progressing after the Capital Market Commission approved the information prospectus, initiating the public offer acceptance period. This move is part of Alpha Bank's broader strategy to strengthen its presence in fund management, aiming to create synergies and expand its investment services.

The acquisition plan, initially announced on April 6, 2026, involves purchasing all shares of Alpha Trust Holdings. Alpha Bank has already secured a significant advantage, having entered into purchase agreements with key shareholders holding a total of 69.61% of the company. These agreements include high-ranking Alpha Trust executives, such as the chairman and CEO, indicating management's support for the transaction.

The central element of the offer is the proposed price of 20.20 euros per share, to be paid in cash by Alpha Bank. Bank sources consider this price highly attractive, as it exceeds the average market price over the last six months by approximately 56% and is more than 13% higher than an independent appraiser's valuation. This substantial premium underscores Alpha Trust's strategic significance for the Alpha Bank group and its potential for further growth in services and managed portfolios.

The acceptance period runs from May 29 to June 26, 2026, giving shareholders four weeks to decide. Participation can be registered through brokerage firms, with the full prospectus available in print and electronic formats. Alpha Bank will cover transaction clearing costs, while shareholders remain responsible for transfer taxes. Results are expected by June 30, 2026. If Alpha Bank acquires over 90%, it can exercise a buy-out right for remaining shares, and minority shareholders will have a right to exit at the same price.